I know a few people who recently set up trust accounts, but I am not really sure why they are needed? What is the purpose and how might they help me? I am 58 and I have grandkids. Until now, I have just been gifting my money in increments.

We are just starting to think about estate planning and it seems like there are a lot of differences that domestic partners need to consider, which married couples do not, so I would like to better understand what problems we might need to worry about?